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Nigeria - Lucerne (Alfalfa) Meal And Pellets - Market Analysis, Forecast, Size, Trends And Insights
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View PricingPrice for Lucerne Meal and Pellets in Nigeria - 2022
Contents:
- Price for Lucerne Meal and Pellets in Nigeria (CIF) - 2022
- Price for Lucerne Meal and Pellets in Nigeria (FOB) - 2022
- Imports of Lucerne Meal and Pellets in Nigeria
- Exports of Lucerne Meal and Pellets in Nigeria
Price for Lucerne Meal and Pellets in Nigeria (CIF) - 2022
The average lucerne meal and pellets import price stood at $535 per ton in 2022, picking up by 7.3% against the previous year. In general, the import price enjoyed a resilient expansion. The growth pace was the most rapid in 2018 when the average import price increased by 128%. As a result, import price reached the peak level of $586 per ton. From 2019 to 2022, the average import prices remained at a lower figure.
As there is only one major supplying country, the average price level is determined by prices for the UK.
From 2012 to 2022, the rate of growth in terms of prices for Argentina amounted to +5.8% per year.
Price for Lucerne Meal and Pellets in Nigeria (FOB) - 2022
In 2021, the average lucerne meal and pellets export price amounted to $22 per ton, remaining constant against the previous year. Overall, the export price continues to indicate a precipitous decrease. The pace of growth was the most pronounced in 2017 a decrease of 99.9%. Over the period under review, the average export prices hit record highs at $67 per ton in 2016; however, from 2017 to 2021, the export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for South Africa.
From 2016 to 2021, the rate of growth in terms of prices for Benin amounted to 0.0% per year.
Imports of Lucerne Meal and Pellets in Nigeria
In 2022, overseas purchases of lucerne (alfalfa) meal and pellets decreased by -6.3% to 147 tons, falling for the second consecutive year after two years of growth. Over the period under review, total imports indicated a strong expansion from 2019 to 2022: its volume increased at an average annual rate of +19.0% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -12.1% against 2020 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 92% against the previous year. As a result, imports attained the peak of 168 tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, lucerne meal and pellets imports reached $79K in 2022. Overall, total imports indicated a buoyant increase from 2019 to 2022: its value increased at an average annual rate of +19.1% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +68.8% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of 67% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.
Import of Lucerne Meal and Pellets in Nigeria (Thousand USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
United Kingdom | 23.9 | 78.1 | 78.5 | 78.9 | 48.9% |
Others | 22.8 | N/A | N/A | N/A | 0% |
Total | 46.7 | 78.1 | 78.5 | 78.9 | 19.1% |
Top Suppliers of Lucerne Meal and Pellets to Nigeria in 2022:
- United Kingdom (147.4 tons)
Exports of Lucerne Meal and Pellets in Nigeria
In 2021, exports of lucerne (alfalfa) meal and pellets from Nigeria totaled 185 kg, almost unchanged from 2020 figures. Overall, exports continue to indicate a relatively flat trend pattern. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in years to come.
In value terms, lucerne meal and pellets exports stood at $4 in 2021. Over the period under review, exports showed a relatively flat trend pattern. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in years to come.
Export of Lucerne Meal and Pellets in Nigeria (USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2020 | 2021 | CAGR, 2020-2021 | ||
South Africa | 4.0 | 4.0 | 0.0% | ||
Others | N/A | N/A | 0% | ||
Total | 4.0 | 4.0 | 0.0% |
Top Export Markets for Lucerne Meal and Pellets from Nigeria in 2022:
- South Africa (185.0 kg)
This report provides an in-depth analysis of the market for lucerne meal and pellets in Nigeria. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- FCL 0862 -
Country coverage:
- Nigeria
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Nigeria
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
This report provides an in-depth analysis of the market for lucerne meal and pellets in Nigeria.
This report provides an in-depth analysis of the global market for lucerne meal and pellets.
This report provides an in-depth analysis of the market for lucerne meal and pellets in Nigeria.
This report provides an in-depth analysis of the global market for lucerne meal and pellets.
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